1989 Shareholder Letter - Summary
Key highlights from Buffett's 1989 letter to shareholders.
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1989 Shareholder Letter - Summary
1989 net worth increased $1.515 billion or 44.4%, with per-share book value reaching $4,296.01 — a 23.8% compound annual return over 25 years. This letter introduced Carl Sagan's bacteria analogy and explained why "double-dip" gains are over.
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Source: Full Letter